What is your credit score if you have no credit?

You could have a credit score if you’ve never had a credit card. It depends on whether any other types of information have been reported to the major credit bureaus in your name. Credit scores are based on the contents of your credit reports, and details about credit card accounts aren’t the only type of information that can show up on a credit report. Having bills in your name, taking out loans, or being an authorized user on someone else’s credit card are just a few of the ways you could have a credit score without a credit card.... read full answer

Ways You Might Have Credit With No Credit Card:

• Taking out a loan (personal loans or student loans for college)
• Renting an apartment that reports to a credit bureau
• Being an authorized user on someone else’s credit card
• Receiving a court judgement that required payment (like alimony or child support)
• Making large purchases (like electronics or furniture) on store credit

The only way to know for sure whether you have a credit score despite never having a credit card is to check your credit score and report for free. It won’t hurt your score, if you have one, and you can sign up for regular credit updates to stay informed.

If you’re looking to start building your credit, the easiest way to do it is with a credit card. As long as you pay the bills on time and keep your balance well below your spending limit, the information that the credit card company reports to the major credit bureaus each month will help you build a good credit score. Plus, there are plenty of good credit cards for people with no credit.

Your credit score is important for a lot of things you’ll do in life, whether you want to buy a home, lease a car, or just get a better insurance rate. The earlier you start building credit, the better.